Amur Minerals (LON:AMC) has upgraded the resource at the second of its main targets at nickel deposit Kun-Manie in Far East Russia after more work by consultant SRK.
The total resource at Ikenskoe/Sobolevsky (IKEN) rises to 35.3mln tonnes (34.1mln) for some 180,800 tonnes of nickel and 47,100t of copper.
Of that, ore in the highest confidence measured and indicated category is now 29.4mln tonnes or 134,700 tonnes of nickel, a 20% rise.
High grade zones account for 77% of the nickel resource, Amur added.
The estimate for contained copper rises to 35,600t with 4,900kg of platinum.
IKEN is the second largest of the five deposits identified at Kun-Manie.
The updated consolidated resource for all five deposits is now 159.6mln ore tonnes with an average nickel grade of 0.45% or 726,000 tonnes.
Copper content per tonne is 0.13% containing 206,400 tonnes, while the combined PGM (platinum group metals) grade is 0.25 g/t representing a total of 40,600 kg.
Robin Young, chief executive, said: The Ikenskoe/Sobolevsky resource statement consists of two geological grade domains that typically reflect open pit and underground production methods.
The ability to define continuous high grade geological horizons is important and allows us to select the right mining method for the right location, he added.
This resource update for Ikenskoe/Sobolevsky and the recent upgrade at Maly Kurumkon/Flangovy used this approach.
“The the results are highly encouraging in that more than 75% of the drill identified metal averages from 0.80% to 0.85% nickel.
“With high grades such as this, we can undertake the development of a reserve base potentially capable of withstanding depressed metal prices such as we are currently experiencing. “
A revised resource of a third and final target at Kun-Manie, Kubuk, is under review, added Young.